As a nation we love a period drama. But there comes a time when one grows weary of put-upon, repressed-yet-principled toffs hightailing around in a frock coat; half-crazed from juggling the demands of uppity servants, batty relatives and unsuitable lovers. And if you've reached that point, then Sky Arts may have the antidote.

Starting tonight is the second series of Italian drama Romanzo Criminale: both a powerfully executed crime thriller and a drama chronicling one of the most tumultuous eras in Italy's recent history. The show is based on the real-life Banda della Magliana crime gang and the drug-fuelled mayhem they wreaked in the 70s and 80s during the violent political period that became known as Anni di piombo, or Years of Lead.

If you missed the first series last year, you may have to just dive in with the second – as yet there doesn't appear to be an English-subtitled DVD release – and immerse yourself in the story of three low-rent villains who share the dream of becoming undisputed crime emperors of Rome.

Libano, the leader, is a swaggering, leering hothead: equal parts street instinct and bullish machismo, he rules as much by an intimidating charisma as by brute force. Freddo is an altogether more cultured character – the Stringer Bell to Libano's Avon Barksdale. He is the calculating strategist of the crew: his coolness under pressure and big-picture thinking make him leadership material. And finally there is the fun-loving Dandi. He may seem to be all about the cars, partying and women that come with the criminal lifestyle, but he has a mean streak that runs deep and wide.

Mean is perhaps a good default setting when the entire country seems to be up for grabs. Romanzo Criminale's Italy of the 70s is a place of endless possibilities – and none of them good. Fascist agitators bomb civilians, the Red Brigades murder politicians, and police corruption is so accepted it seems impolite to question it.

In season one we saw the assassination of Aldo Moro, the Bologna massacre and shady far-right secret service men subcontracting their dirty work to the gang. While scoundrels flourished, men of honour were thin on the ground. Season two takes up the action directly after the game-changing events of last season's finale. As the major players regroup and rethink their strategies we find ourselves in the early 80s. Fashion is slowly evolving but the drug game stays the same – where there's money there's bloodshed.

Part of Romanzo Criminale's appeal comes from the period detail: tough guys walking around in Harry Hill collars, police officers barking into huge walkie-talkies, implausibly lush moustaches. But the real joy comes from the expertly wrought tension of a good crime thriller, particularly when it takes place against such a turbulent backdrop.

The show serves as both entertainment and history lesson. It's a case of the right crew of thugs grabbing their historical opportunity while everything around them goes to hell. They're on the fiddle while Rome burns. But while the social context is fascinating, the emotional heart of the show remains with Libano, Freddo and Dandi and their insane plan to take over the capital. Whether in politics or crime it's hard not to root for the guy with the impossible dream.